MFS Intermediate Income Trust (NYSE:MIN) Shares Cross Below 200-Day Moving Average – Here’s What Happened

MFS Intermediate Income Trust (NYSE:MIN)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.64 and traded as low as $2.57. MFS Intermediate Income Trust shares last traded at $2.5850, with a volume of 105,032 shares trading hands.

MFS Intermediate Income Trust Stock Up 0.6%

The firm’s 50 day moving average price is $2.61 and its 200-day moving average price is $2.64.

MFS Intermediate Income Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.0192 per share. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date is Tuesday, February 17th.

Institutional Investors Weigh In On MFS Intermediate Income Trust

Institutional investors have recently modified their holdings of the business. Wealth Quarterback LLC purchased a new position in MFS Intermediate Income Trust in the 2nd quarter worth about $28,000. Landscape Capital Management L.L.C. purchased a new position in shares of MFS Intermediate Income Trust during the fourth quarter valued at approximately $34,000. Integrated Wealth Concepts LLC purchased a new position in shares of MFS Intermediate Income Trust during the third quarter valued at approximately $39,000. Benjamin Edwards Inc. bought a new position in MFS Intermediate Income Trust during the third quarter valued at approximately $54,000. Finally, Shaker Financial Services LLC boosted its holdings in MFS Intermediate Income Trust by 23.0% in the second quarter. Shaker Financial Services LLC now owns 25,050 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 4,680 shares during the last quarter. 50.90% of the stock is owned by hedge funds and other institutional investors.

MFS Intermediate Income Trust Company Profile

MFS Intermediate Income Trust (NYSE: MIN) is a closed-end management investment company that seeks to provide a high level of current income consistent with the preservation of capital. The Trust pursues its objective by investing primarily in a diversified portfolio of intermediate-duration fixed-income securities. Its holdings typically include investment-grade corporate bonds, mortgage- and asset-backed securities, and select non-investment-grade debt instruments. The Trust may employ leverage to enhance income potential and intends to distribute gains and interest earnings on a monthly basis.

The portfolio is managed by the fixed-income team at MFS Investment Management, a global asset manager founded in 1924 and headquartered in Boston, Massachusetts.